International Business Research; Vol. 14, No. 12; 2021 ISSN 1913-9004 E-ISSN 1913-9012 Published by Canadian Center of Science and Education 43 Business Model Construction from Dynamic Capabilities Perspective Xiong Wang 1 & Sarana Photchanachan 2 1 Ph. D. Candidate, School of Management, Shinawatra University, Pathum Thani, Thailand 2 Management, School of Management, Shinawatra University, Thailand Correspondence: XiongWang, Management, School of Management, Shinawatra University, Thailand. Received: October 4, 2021 Accepted: October 25, 2021 Online Published: November 5, 2021 doi:10.5539/ibr.v14n12p43 URL: https://doi.org/10.5539/ibr.v14n12p43 Abstract The construction of the business model is to shape the structure of various activities in the plate according to the task attributes and task objectives of each section in the business model. The Dynamic Capabilities of the enterprise determine the result of the construction of the business model, and its strength also affects the adaptation and operation of the business model institutions to the new business model. Enterprises with strong Dynamic Capabilities have a good execution ability in the business model architecture, and can also quickly adapt to the structural framework of changing their business model, and improve the feasibility of the actual operation of the business model. This paper will be in the framework of the Dynamic Capabilities theory, the construction of business model, through the case from model construction, design innovation to the coordinated operation of the new model, concluded that the two have a strong interaction, including the enterprise higher-order Dynamic Capabilities has a strong positive influence on the choice of business model, construction and application. Keywords: dynamic capabilities, business model, innovation 1. Introduction The business model is the enterprise as the core of the stakeholders to complete the two basic tasks of "creating customer value" and "acquiring enterprise interests".As Joan Magretta, a famous scholar at Harvard University pointed out: business models are the story of how innovators make money, and the idea of the business innovation building activities to carry out. Creating customer value is the premise and basis of obtaining enterprise interests. Without considerable enterprise interests, there cannot be sustainable resource conditions. Specifically, a good business model will not depend solely on customer value or the enterprise interests, but on the part created together, the larger, the more outstanding the business model. According to the global entrepreneur survey structure conducted by The Economist, more than half of the global respondents believe that business model innovation is more important than product or service innovation. The more representative entrepreneurial model experimental innovation exploration comes from a 2010 study published by Dr. Sosna, which states that the successful innovation construction of the business model is a continuous trial and error, the learning process. The starting point of this process is the overall plan of a new business, starting from the two stages to finally complete the innovative construction of a business model, these two stages are the development of the original model includes the design and optimization of the original model, and the expansion stage includes scale amplification and consolidation and improvement. According to the basic idea of Porter's competition strategy theory based on the Mason-Bain paradigm, where resource-based view states that only four strategic resources can be integrated under the VRIN framework (Valuable, Rare, Imperfectly Imitable, Non-Substitutable). The cooperation between VRIN resources and the business model largely depends on the support of enterprise Dynamic Capabilities. In the process of critical inheritance and development of resource foundation theory, Dynamic Capabilities theory explains how its ability determines the design and operation of business model, and its higher-order Dynamic Capabilities is a necessary condition for business model design, optimization, operation, and transformation. Dynamic Capabilities plays an important role in maintaining the high profitability of the enterprise from multiple links, among which the ability to design and adjust the business model is an important link. Dynamic capability functions at two levels from the perspective of the overall capability combination of the